Trality Review 2024 – Is This Trading Bot Safe?

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IMPORTANT UPDATE: Trality will be closing down for its consumers, we found the information on its official website blog mentioning “winding down its consumer-facing product suite on July 31, 2023.”

Accordingly, we have marked the trading bot as “closed.”

To find a reliable crypto trading bot where you can start trading, check our most secure crypto trading bots list, and we’ll help you to find the right bot.

A zero learning curve in crypto trading bots is always welcome among beginners. The Trality crypto bot is compatible with this context perfectly. Continue reading our Trality review to see if you want to switch and start trading or if it might fit your needs in developing trading bots.

This Austrian company was founded in 2019 by Christopher Helf and Moritz Ptzhammer. You may create and configure your crypto trading bot using this cloud-based platform. Based on the Python application programming interface (API), the system enables developers to build and profit from their bots. Making your automated trading bots requires a lot of complicated steps, so Trality software comes in handy and assists you in creating one from scratch.

The two paradigms of the platform for creating a bot are the rule builder and the coder’s mode. Easily accessible drag-and-drop rule builder functionality allows new users or non-coders to create bots. The Code Editor is designed for Python coders and enables them to create unique algorithms for more complex Trality strategies using their coding skills. The app’s creators claim that its features bridge the gap between professional and private trading inequalities to benefit the cryptocurrency business.

Summary of Trality Crypto Trading Bot

How does Trality Trading Bot Work?

Trality operates on a rather straightforward foundation. We have organized its functionality into manageable categories below.

Sign up: Before using this platform, you must register on it. Registration is really simple. To get started, simply go to the Trality website, open the signup form, enter your email address, and click the confirmation link in your email.

Develop A Power-packed Bot: Of course, building your cryptocurrency trading bot is the most demanding step. You can ask Trality for help by beginning tutorials for either the Rule Builder or the Code Editor, depending on which one you choose.

Connect Exchange: Just head to the settings menu and enter the account information for the exchange you want your future bots to use. For live trading, you will need your own API key.

Start Trading: Done with a single click on the “start bot” button in the interface’s top right corner.

Pros and Cons

Key Features of Trality

Code Editor

Trality has a cloud-based Trality Code Editor where you can start programming for free. You may discover NumPy and many more well-known libraries here, and their creators have also promised to release more libraries to help Python programmers in the near future. The incorporation of a simple API enables programmers to use financial data. You can use in-browser debugging to fix compile-time bugs. Additionally, the editor makes it easier for programmers to backtest directly in the browser. Although time-consuming, optimization is important in coding to improve performance. Here, Trality has backed you. Experienced traders can get the best results for their trading bot with the editor’s built-in optimizer.

Drag and Drop Rule Builder

The feature that most distinguishes Trality from competing applications is its Rule Builder mode. Beginners can easily construct the logic of their automated trading bot and automated scripts by dragging and dropping indicators using the appealing graphical user interface of Rule builder. You can quickly and easily give a face to your trading strategies and ideas with Trality’s Rule Builder and turn them into a successful bot. You can also use video lessons to learn about cryptocurrency trading strategies at all levels, from beginner to expert.

Marketplace

The ability to build paper trading bots and sell them to investors is another intriguing feature of Trality for experienced programmers. There are two ways for programmers to benefit from algorithmic trading: either they develop the bots themselves or they rent them out. Python programmers with extensive experience can now be compensated for their expertise and talents. It enables programmers to make money without having to invest a sizable sum upfront. Trality creators guarantee programmers’ anonymity when it comes to the secrecy of their trading algorithm.

Monetize

As per the Trality bot review, it also allows programmers to monetize their trading strategy through custom bots and generate passive income. Create trading bots flawlessly, and that’s all there is to it. Then, please post it on Trality’s marketplace to earn a monthly side income from each user who purchases your bot. The Trality developers must first authorize your bot, which is a small matter. After approval, the developer will receive 70% of the net recurring subscriptions from each buyer that hires your bot.

User Experience

The Trality platform’s UI/UI is very practical and user-friendly. The software is simple to use regardless of whether you are an experienced crypto trader, a python coder, or just a newbie. There aren’t many options, but they are all clear-cut and easy to grasp so you won’t feel overwhelmed. The platform’s thorough documentation and assistance sections will make your best crypto trading bot creation experience much easier. A Telegram support chat is always available if you experience any issues. You may get the chance to try Trality’s platform risk-free with its free paper trading and backtesting capabilities.

Trality Trading Competition

A global Python coding competition focusing on crypto trading is being organized by Trality. It will last from November 1, 2022, to January 15, 2023. In accordance with Trality’s commitment to the strictest privacy and security standards, all bot competitors would be their algorithms’ sole authors and owners. The developers of Trality also assure creators that their algorithms will remain in encrypted form. Plus, the source code for every single trading bot will continue to belong to its owner exclusively.

Participating in the Competition

Any programmer who meets all the requirements outlined in the section below is eligible to compete. The competition is open to everyone. If you haven’t already, register for a free account in order to take part in the competition. After completing the registration requirements, you must construct a powerful bot. The final step is to enter your trading bot on the competition page.

Prizes

Python programmers now get a chance to compete against some of the top programmers in the world in the Trality Trading Competition, which has been running for the past two years. For the top 3 bot developers, there are 6,000 USDT in cash awards, and for the Top 5 crypto trading bots, there is a FREE one-year subscription to the premium “Queen” plan (worth €575). Please visit the Trality Guild page for further information.

Competition Timeline

During our Trality review, the Trality platform will be available throughout the submission period, from November 1 to December 1, 2022, allowing retail traders and creators of algorithmic trading bots to submit their work. The actual Competition lasts 45 days, from December 1 to January 15, 2023. All winners will be revealed on January 18, 2023.

Criteria and Eligibility

All uploaded crypto trading bots should satisfy a fundamental set of rules listed below to be eligible for Trality’s Trading Competition.

1. Your bot must use the margin trading API keys of Trality.
2. Your trading bot employs USDT as mentioned currency.
3. Your bot trades using at least one of the following cryptocurrencies as its core currency: BTC, ETH, XRP, XLM, SOL, DOT, UNI, AVAX, LINK, ATOM, XMR, NEAR.
4. Your trading bot should be created using the code editor.
5. Your own bot must function on a Binance account.

Further requirements for participants include:

1. You need to have an active Trality crypto trading account.
2. Trality users must be at least 18 years old at the time of entry. Before prizes are awarded, your age might be checked.
3. Participants from restricted nations cannot participate.
4. Entry is free on-site, and no purchases are required. You can visit the website for further information.

Trality Account Signup

Create Account

Setup your Accounts

Setting up your account is pretty easy once you are in the dashboard. Consider these steps:

• Select “Create new bot,” and a popup will appear asking for some details.
• You may now give your bot any name and a color to distinguish it from other automated trading bots.
• To begin creating your bot, select either the straightforward Rule Builder or the Python Code Editor.
• Test your bot rigorously to locate and fix compile-time and run-time errors in your bot.
• Your bot is now equipped for cryptocurrency exchanges.
• To connect Your Trality crypto trading bot to the exchange, simply go to “Funds,” which is on the left side of your dashboard.
• You can select here whether you wish to link your cryptocurrency exchange account to a live account or a virtual account for paper trading (simulation).

Trality Security

Trality’s security protocols for creating and deploying your cryptocurrency trading bots are what give it its popularity. Users’ money will never be kept in an account; instead, it will always be securely stored on the exchanges. Trality will never have direct access to users’ funds and will only ever place orders on your behalf using official exchange APIs. Further, your trading techniques are end-to-end encrypted so that nobody can access them, not even Trality.

The fact that everything is cloud-based allows you to rest easy knowing that your trading bot will operate continuously and never miss a trade in the volatile cryptocurrency market. This means you will never need to own trading servers for better trades.

Trality Pricing Plans for Account

The platform’s pricing structure is reasonable and adaptable, as per the Trality bot review from experts, and it was created with users of all expertise levels in mind. Trality offers four payment tiers, or three tiers, and a free “sample” option with reduced features.

• The free Pawn plan includes 1 bot, a €5,000 trading volume cap, 1 week of log storage, and a minimum tick interval of 60 minutes.
• The Knight plan comes with 2 bots, a €25,000 trading volume cap, and a one-month log retention period. The monthly payment is €9.99.
• The Rook technique is the one most frequently employed by experienced traders. It has a 5-minute minimum tick interval, a €250,000 trading volume cap, and a 6-month log retention period. It costs €39.99 per month.
• The top-tier Queen price plan eliminates the cryptocurrency trading volume restriction, lowers the minimum tick interval to one minute, permits 10 bots, and permanently saves your retention log.

All four Trality pricing tiers offer cost-free, unlimited backtesting.

Crypto Exchanges Supported By Trality

According to our Trality review, it enables customers to link their bot to the most well-known crypto exchanges, including Binance Kraken, Coinbase Pro, and Bitpanda Pro. These are the most well-known cryptocurrency exchanges in the world, and using them gives cryptocurrency traders access to the incredible benefits of cryptocurrency markets. Users can trade in major cryptocurrencies 100″ automatically and around the clock by connecting the trading bot to the APIs of these exchanges. However, as stated by the Trality creators, a few more additions are also on the way.

Customer Support

The quality of support you can get from Trality will astound you. As per our Trality review and research, it has a supportive community of algorithmic crypto traders behind it for its excellent customer care. They provide users with a supportive Telegram group where they can go and ask any questions regarding the business and its ecosystem for creating free trading bots.

This is helpful because some founders and product owners actively participate in the debate and always seek feedback, allowing advanced traders to participate in the product’s frame actively! The Trality Documentation forum is another excellent resource bot creators may utilize to find reliable information. You can view it without creating an account. The community only provides an email option to respond to any Trality user directly and swiftly.

Bottom Line on Trality Review

It’s challenging to invest in cryptocurrencies using bots, not just because the technology is so sophisticated but also because there are so many different trading platforms available. However, the Trality platform stands out from the competitors because of its flexibility, usability, and outstanding features. The Trality platform encapsulates lots of potential. The product comes with everything a real bot builder could possibly require. Trality is undoubtedly not a generic bot-trading platform, but it has some of the best features and versatility available. It also empowers developers to profit from algorithmic trading while maintaining their jobs. Trality will become more competitive in the cryptocurrency market because of the Bot Marketplace and mobile app that is currently being developed.

FAQs on Trality Bot Marketplace

Is Trality Bot Free?

Yes, the Trality bot platform is totally free and doesn’t charge any Trality fees for sign up and trades in the crypto market. Trality supports free platform testing for new customers, allowing them to make paper trades using virtual money.

Does Trality Work with Binance Us?

Yes, a couple more exchanges to execute trades, aside from this, will be added soon.

Is Trality Trading Bot Legit or Safe?

Trality is a trustworthy and secure trading software. It guarantees that the platform won’t ever touch your money directly. Additionally, it only makes use of authorized exchange APIs. Crypto trading bot and strategies have full encryption, increasing their trustworthiness.